Open banking

Open Banking Payments

Simple, frictionless, and a secure process for your customers. 
Pay360's Open Banking payment solution drives real benefit and tangible outcomes to your organisation and for your customer.

Logo

Making a difference to your business

Open banking - customer engagement

Customer Engagement

Offer Payments by Open Banking in your contact centre and keep your customer engaged with your agent through the payment process. Provide your customer with an electronic bill, invoice or reminder in real-time, at the point of requesting payment. 

Open banking - improve cust experience

Improve your customer experience

Market data indicates that Open Banking payments are a proven means of increasing customer satisfaction and customer net promoter scores (source: Open Banking Implementation Entity (OBIE)).

Open banking - reduce costs

Reduce Costs

Significant cost savings when compared with traditional card processing and acquiring.

Open banking - digital engagement

Provide better digital engagement

For both self-service and contact centre payments, offer Open Banking payments. Enabling more choice, maximum conversion, and less basket abandonment.

Open banking - PCI DSS

PCI DSS de-scope

Open Banking payments are secure, with built-in strong customer authentication. No banking data is shared, and because there are no card details processed, there is no PCI DSS compliance overhead. 

Open banking - improve cashflow

Improve your cashflow

Pay360 can facilitate rapid transfer of funds to your organisation's bank account(s). 

Open banking - lower fraud

Lower fraud

Every payment is authenticated by the user’s bank and subject to strong customer authentication.

Open banking - find out more

Find out more

Speak to us to see how Open Banking payments can benefit you and your business. 

Open banking - online

Online

Our solution enables customers making a self-service payment online, to make that payment by selecting the 'pay by bank account' option, as an alternative to paying by card. 

Open banking - contact

Contact Centre

Pay360's 'payment request' option is available within our 'contact centre' payments product and takes advantage of Open Banking technologies to enhance your customer experience in contact centre engagements. 

Logo

How do payments by Open Banking work?

Payment

Payment is sent directly from the customer's bank account, using their existing mobile banking app or online bank account. 

Open banking - 1 payment

Customer

The customer doesn't need to share their bank account details with the merchant, sign up or download a new app in order to pay. Payment is authorised entirely within their familiar, convenient, secure and trusted banking option. 

Open banking - 2 customer

Payments by Open Banking

Using Open Banking payments means there is no card data processed in the payment, meaning all payments are made outside of PCI DSS scope, which reduces or removes your compliance overheads. 

Open banking - 3 open banking

Monetise your digital transformation

Within the UK, there are

6 million

active users of open banking payments

At the end of 2021, over

26.6 million

open banking payments were made

An adoption growth of

1126%

was achieved in the last two years

There were

6.5 Million

Open Banking payments in August 2022

Within the UK

93%

Use online banking

An average growth of nearly

500%

is expected between now and 2024

Are you ready to experience the power of seamless online payments?

Let’s get started

Fill in the enquiry form today to discuss your needs with our advisors.

  • Significant cost savings
  • Safe and secure transactions
  • Easy integration
  • Step-by-step guidance to drive adoption
Open banking
Statistics sourced to Ordo, 2022 and Nuapay, 2022